TechStream

Technology news around the ecosystem!

From Lagos to Nairobi

We give you summaries of happenings around tech, from developer stand-ups to the boardrooms.

  • South Sudan Restores Social Media Amid Security and Economic Hurdles

    Today, South Sudan has lifted a five-day ban on social media platforms like Facebook and TikTok, which was imposed after graphic videos allegedly showing attacks on South Sudanese nationals in Sudan sparked unrest. The National Communications Authority (NCA) restored access after confirming the content’s removal, citing public safety concerns. The shutdown disrupted businesses, digital entrepreneurs,…

  • Swedfund Invests $41 Million to Boost Sustainable Infrastructure in Africa and Asia

    Swedfund, Sweden’s development finance institution, is investing $41 million (€40 million) into the Emerging Africa & Asia Infrastructure Fund (EAAIF) to boost sustainable infrastructure across Africa, the Levant, and South and Southeast Asia. Managed by Ninety One, the fund focuses on climate action, inclusivity, and economic transformation in regions struggling with energy access and digital…

  • Bento CEO’s resignation leaves investors in the dark amid EFCC, LIRS probe

    Investors in Nigerian HR-tech startup Bento Africa were left stunned after CEO Ebun Okubanjo abruptly resigned and relinquished his stake in the company without prior notice. His departure follows allegations that Bento failed to remit millions of dollars in taxes and pension contributions for its clients, raising concerns about financial mismanagement. Investors revealed Bento had…

  • Moniepoint, OPay, PalmPay responded to 2024 ban with better data collection and compliance

    In 2024, Nigerian fintechs faced intense regulatory pressure, including fines and a six-week ban on onboarding new users due to compliance issues with anti-money laundering and fraud prevention standards. In response, fintechs revamped their operations, tightening compliance measures and enhancing data collection practices. With leadership changes at the Central Bank of Nigeria (CBN), the new…

  • Airtel Africa reports a $248M gain after tax in 9 months

    Airtel Africa has reported a $248 million profit after tax for the nine months ending December 31, 2024, a massive increase from just $2 million during the same period in 2023. The company’s revenue grew by 20.4% to $3.64 billion (in constant currency), driven by the rise in mobile money and data usage. However, currency…

  • Visa Partners with Moniepoint to Accelerate Financial Inclusion and Digital Transformation for African SMEs

    Moniepoint Inc., a leading business payments and banking platform in Nigeria, has secured an investment from Visa to enhance financial inclusion and digital transformation for African SMEs. Since its founding in 2015, Moniepoint has become a key player in Nigeria’s fintech landscape, offering a wide range of services including digital payments, banking solutions, and credit…